WhatsApp Trading Scam: Scammers have done a big scam with a business in Bangalore. Scammers advised the 50-year-old businessman to invest by luring him with trading. Initially, the scammers lured him by promising returns. Then they asked him to invest crores of rupees at once.

 

WhatsApp Trading Scam:   A Bangalore businessman was scammed. The 50-year-old businessman was lured into a trading scam via WhatsApp and robbed of Rs 6.6 crore. The fraudsters carried out this fraud by luring him with high returns via WhatsApp. This incident took place between September 8 and October 23, and is being seen as the biggest online investment fraud in Bangalore so far.

Mohit first received a message from an unknown WhatsApp number on September 8, promising huge profits in online trading. He was added to a WhatsApp group where many people were talking about the alleged profits they made from investing in the stock market. These fake members also shared fake screenshots of their earnings and suggested investing through the app "ECAUSE-WAY".

 

Seeing the constant discussions in the group and the screenshots of attractive profits, Mohit's confidence grew. The scammers also shared links to classes related to online trading in the group. Mohit joined these classes and after understanding them, slowly started investing.

Returns given on small amount investment

Initially, Mohit invested a small amount and the scammers immediately credited the returns to his bank account, which further strengthened his trust. Soon, he was advised to ask for bigger investments and was added to a new WhatsApp group the next day (September 9). The fraudsters sent messages from several different numbers, urging him to make bigger investments.

6.6 crores looted by luring with big investment

Mohit transferred a total of Rs 6.6 crore from his bank account to about 14 different accounts several times because he thought he would get high returns. But as soon as Mohit tried to withdraw his money, he could not do so because the scammers had stolen the money. 

When Mohit tried to withdraw the money and it was not possible, the fraudsters started demanding more money on new pretexts like tax and processing fees. Then Mohit got suspicious and realized that he had been duped. After this, he contacted the cyber helpline and lodged a complaint with the police on October 24.

The police have registered a case under the Information Technology Act and Sections 316 (breach of trust) and 318 (cheating) of the Indian Penal Code. According to the police, they are trying to freeze the accounts of the fraudsters, but most of the money has been transferred to other "original accounts".